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Taylor Baca, CRME, CHDM Corporate Director of Revenue Management, Balboa Bay Resort & Club, HSMAI Rising Revenue Optimization Leader Council Member
In a time of technological advancement, keeping up with the latest tools and systems can pose a considerable challenge both organizationally and personally. However, the adoption of technology can provide us with enhanced data analytics, the ability to provide personalized guest experiences and expand revenue opportunities. Moreover, technology and AI can offer solutions by streamlining routine tasks and allowing our leaders the opportunity to focus on the more creative and strategic aspects of their roles. Barriers such as budget constraints and reluctance to change can impede the seamless adoption of technology. I brought this topic to the HSMAI Rising Leader Council to discuss how we can challenge the status quo.
Our discussion revealed hurdles to adopting technology, such as budget concerns and resistance to change. Yet, as rising leaders, we are uniquely positioned to be agents of change, since we have the language of technology.
We agreed that often it came down to showing technology’s concrete benefits: how revenue management and business intelligence platforms not only can integrate with existing systems but also significantly boost ROI by optimizing pricing and improving operational efficiency. This requires a dual focus on the data as well as on gaining buy-in through effective communication.
The goal is to use technology as a tool to enhance, not replace, personal interactions, ensuring the hospitality experience remains warm, genuine, and, ultimately, human. This balance is critical in leveraging data for personalization while preserving the hospitality that guests require.
Further Reading:
- 5 Technologies Hotels Should Adopt in 2024 | By Nicole Dehler (hospitalitynet.org)
- 5 Tech-Driven Hospitality Trends to Expect in 2024 and Beyond | By Joe Vargas (hospitalitynet.org)
- How to Overcome the Challenges of AI Adoption in the Hotel Industry (demandcalendar.com)
Questions for Your Team:
- As young leaders, we belong to a generation that has grown up through great technological advancement. How can we leverage this technology first mindset and expertise to challenge the existing technology within our organizations and embrace new solutions and systems?
- Could it be argued that amidst escalating labor and supply costs, economic uncertainty and workforce shortages, technology integration can assist in addressing these challenges?
- With rising costs and budgetary restrictions, how can we effectively demonstrate a return on investment to justify our adoption of new technology?
- How can technology enhance revenue beyond room sales by leveraging hyper-personalization tools?